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Suspected London loan sharks arrested

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Suspected London loan sharks arrested

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Published by Max Salsbury for 24dash.com in Communities and also in Legal, Local Government

Suspected London loan sharks arrested Suspected London loan sharks arrested

Two suspected loan sharks have been arrested in London.

The England Illegal Money Lending Team (EIMLT) swooped in two separate operations this morning.

Working in partnership with Hammersmith and Fulham Borough Council, the EIMLT took a 43-year-old male into custody after executing a warrant at a residential and a business property.

Meanwhile, in an unrelated operation with Wandsworth Council the Team arrested a 38-year-old woman.

The two suspects are currently helping police with their enquiries.

Cllr Greg Smith, Hammersmith and Fulham Council deputy leader, said: "Loan sharks use despicable methods to exploit some of the most vulnerable members of society. They are a blight on our communities, pretending that they generally care about someone’s welfare only to charge the most exorbitant interest rates. This council is working hard to rid the borough of the scourge of loan sharks but in the meantime, our advice is to avoid any contact with them."

Wandsworth Council's cabinet member for community safety, Councillor Jonathan Cook, said: "Loan sharks pose a serious threat to low income families - often trapping people into spiralling debt and making their victim's lives a misery. In the more extreme cases there have been threats, violence and intimidation to pressure victims into paying the money back.

"It is important we work together with our partners to stamp out this illegal racket so I would urge anyone who suspects that a member of their family, or a friend, is the victim of a loan shark to contact Trading Standards or the Illegal Money Lending Team."

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